BRUSSELS, Belgium—The eurozone’s annual inflation rate rebounded more than expected in October due to rising food costs, official data showed on Thursday,
but remains in line with the European Central Bank’s two-percent target.
The September reading had been the first time the figure fell below the ECB’s two-percent target in more than three years. The core inflation figure was higher than expected by analysts who predicted it would fall to 2.6 percent this month from 2.7 percent in September. Thursday’s inflation rise was driven by food and drink price increases, which reached 2.9 percent in October, well above the 2.4 percent increase registered in September.
The United States on Wednesday reported growth of 0.7 percent in the third quarter from the previous three months.
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